e.l.f. Beauty Raises Forecast as Global Expansion Fuels Growth
e.l.f. Beauty has raised its annual sales and profit forecast after reporting strong demand for its affordable cosmetics and skincare products, even as consumers continue to face inflationary pressures. The company, which sells about 75% of its products for $10 or less, said its value-focused strategy helped drive momentum during the first quarter. Net sales surged 36% to $479.4 million in the quarter ended June 30, comfortably beating analysts’ expectations.
The beauty giant is accelerating its international expansion plans, targeting key markets such as the United Kingdom, Canada and Germany. Finance chief Mandy Fields described overseas markets as a major growth opportunity, noting that international sales currently account for only 20% of the company’s revenue. e.l.f.-owned Rhode is set to launch in 19 European countries next month, while the e.l.f. brand will debut in Brazil through a partnership with Sephora and expand further in the UK through Boots.
Buoyed by strong performance, e.l.f. now expects fiscal 2027 net sales of $1.94 billion to $1.97 billion, up from its previous forecast of $1.84 billion to $1.87 billion. The company also increased its annual adjusted profit outlook to between $3.50 and $3.55 per share. Despite the upbeat results, e.l.f. shares fell about 3% in extended trading after rising nearly 14% so far this year. Pic Courtesy: google/ images are subject to copyright
